openPR Logo
Press release


06-22-2017 10:04 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Intelectasia Consultancy

/ PR Agency: Intelectasia Consultancy
A global entrepreneurship competition by GEM to spur disruptive ideas to rapidly transform ASEAN

SUBANG JAYA, June 22 2017 – The inaugural ColossusINNO2017 competition was recently launched by the Global Entrepreneurship Movement (GEM), to recognize entrepreneurs with world class innovations that will help transform ASEAN’s socio-economic community. The GEM management committee for the competition expects to receive over 1,000 submissions from entrepreneurs across the world, where a cash prize of USD 100,000 will be awarded to the winner.

GEM is a non-government, not-for- profit organization developed by Tan Sri Dr. Mohd. Irwan Serigar, also the Secretary-General of Treasury, Ministry of Finance, Malaysia, to democratize entrepreneurship – to create zero barriers for aspiring entrepreneurs to spur new enterprises, to be easily educated in the field of entrepreneurship and to connect the Malaysian and the ASEAN entrepreneurship ecosystem to other global ecosystems.

A collaborative effort by GEM and its partners – Ministry of Finance (MOF) and Malaysian Global Innovation & Creativity Centre (MaGIC), under the program of Startup and SME Promotion Year 2017 (SSPY), ColossusINNO2017 was incepted to inspire breakthrough thinking among entrepreneurs to develop the next big innovative solutions that help address the market gaps in ASEAN, which in turn will propel ASEAN nations closer towards first world status – such as innovation in the areas of governance, poverty eradication, education, health, environment and cleanliness.

Tan Sri Irwan commented “It is a known fact that there is no lack of innovation in the ASEAN region, as the entrepreneurial ecosystem has evolved tremendously over the years. What we need now is greater confidence amongst our entrepreneurs to think big, take on bigger challenges and direct their imagination on innovating in ASIA for ASIA. Thus, the creation of ColossusINNO2017 – as the name suggests, we want the ideas to be ‘born global.”

President of GEM, Dash Dhakshinamoorthy also shared his enthusiasm for ColossusINNO2017 and commented “We are positive that a global competition of this scale and stature will attract the support from top notch ecosystem players – such as accelerators and early stage funders. And with its global support network, GEM aims to attract regional and global startups to launch their ventures in Malaysia through ColossusINNO2017, in hopes of garnering more interest from the international funding community and support network.”

ColossusINNO2017 is working closely with a Silicon-Valley- based competition platform, You Noodle, to be its competition engine and call for submissions, shortlist and select winners. The platform will also engage a panel of international judges to make the selection independent and to ensure that the winners meet the global standards in terms of knowledge, solution to problems and other requirements of a scalable startup. The panel of judges are Director of Global Education at Georgetown University in Washington D.C., Sam Potolicchio, Advisor to the Vice President for the MENA Region at World Bank in Washington D.C., Olivier Lavinal, and Director and Leader of
Digital Transformation at Cisco in India, Lux Rao.

Submissions for ColossusINNO2017 will be opened to challengers from across the world from June 21 to end of October, followed by the announcement of the top ten finalists in November. These finalists will be invited to present their winning stories to ASEAN and global entrepreneurs, policymakers, industry leaders, investors and other startup community participants at the Global Entrepreneurship Community 2017 (GECommunity 2017).

The winner of ColossusINNO2017 will be announced at the GECommunity 2017 on December 5 and 6 2017. Apart from being awarded with a cash prize of USD 100,000, the winner will also be exposed to a variety of mentorship, resources and skills to aid the growth of the idea, amongst which collaboration with the local government and corporations will be made possible in aiding a stronger market entry.

Also present during the launch were the GEM Champions and GEM City-Chapters, consisting of ecosystem builders that have direct access to many local communities of entrepreneurs, are actively championing GEM’s programs and objectives. These GEM advocates are from various cities including Bangladesh, Bangalore, New Delhi, Guangzhou, Bangkok, Hanoi, Ho Chi Minh City, Manila, and Phnom Penh.

For more information on ColossusINNO2017, please visit

- ends -

For more information, please feel free to contact:

Shaheera Fauzi (Public Relations Consultant)
Mobile: 012-3606504

About Global Entrepreneurship Movement (GEM)

Founded by Ybhg. Tan Sri Dr. Mohd. Irwan Serigar, General Secretary Treasury of Ministry of Finance, the Global Entrepreneurship Movement (GEM) was launched on 7 March 2016. Today, this vibrant organization has more than 10,000 affiliate members, 24 corporate members and 18 committee members who are industry leaders, each with prolific achievements in their respective fields of work. With the spirit of Democratizing Entrepreneurship, GEM aims to achieve its mission by strategically aligning the various entrepreneurs’ communities and agencies be it public or private in Malaysia; with the ecosystems in the global marketplace.

About Global Entrepreneurship Community 2017 (GECommunity)

GECommunity 2017 connects entrepreneurs, ecosystem leaders, policymakers, industry leaders, investors, and community drivers to build a vibrant global entrepreneurship community. It is a collaboration between the National Entrepreneurship Development Office (NEDO) under the Ministry of Finance, Malaysian Global Innovation & Creativity Centre (MaGIC) as well as the Global Entrepreneurship Movement (GEM). Carrying the theme of “Designing the Future’, GECommunity 2017 will take place at the Kuala Lumpur Convention Centre, Malaysia on 5 - 6 December 2017. Discussions on innovation, disruptive trends and emerging technologies, public and private
collaboration, innovation are among the topics on the agenda as participants push boundaries and rethink new solutions for real issues. For more information, please visit

About Startup and SME Promotion Year 2017 (SSPY)

SSPY 2017, themed “Innovative Ideas, Leading Future” is the unifying campaign that aggregates information on programs and initiatives that support the entrepreneurship development in Malaysia. The SSPY MY app is the one-stop directory for entrepreneurs to discover and chart their development roadmap through the various programs offered by the government and corporate sectors.

Download the sspymy app through Google Store and Apple App Store or email for more information.


MaGIC enables and supports the sustainable growth of entrepreneurship in Malaysia. Our goal is to drive sustainable ecosystem development through innovation, as well as create value and new economic drivers for Malaysia. We help entrepreneurs at every stage of their journey by collaborating with other government agencies, industries, and community stakeholders. To build our nation’s creativity and innovation skills as well as grow talent, we offer dynamic programs and capacity-building initiatives. MaGIC is also working to position Malaysia as a gateway to Asia for entrepreneurs to expand their business and reach. Social entrepreneurship is a key focus for us; we aim to drive the movement forward through community engagement, capability development, and social impact measurement initiatives. For more information on MaGIC, please visit

Intelectasia consultancy is known to provide solid media relations, crisis communication and social media strategies that deliver the results our clients deserve.

D-3A-01 Ritze Perdana Business Centre, Jalan PJU 8/2, Damansara Perdana

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release ColossusINNO2017 COMPETITION KICKS OFF here

News-ID: 590702 • Views: 812

More Releases from Intelectasia Consultancy

ASEAN Data Startup Accelerator Program Now Accepting Entries for Second Cohort
FOR IMMEDIATE RELEASE Open Data Institute provides accelerator program for startups to develop world-class innovations using open data KUALA LUMPUR, AUGUST 2 2017 – Open Data Institute (ODI), an organization that is building a strong, fair and sustainable data economy by helping governments and businesses around the world get data to people who need it, is injecting innovation in ASEAN with its comprehensive accelerator program for startups, which ODI aims to spur
FOR IMMEDIATE RELEASE HRINCAMPUS launches an exclusive event dedicated to student advancement as fresh graduates are invited to connect with employers for future career opportunities PETALING JAYA, JULY 31, 2017 – HRINCAMPUS invites students looking for associateships after graduation to attend the 2017 Intercampus Career Fair (ICCF) that aims to provide students with the opportunity to find their preferred employers and for employers to meet promising fresh graduates and future employees. The career
FOR IMMEDIATE RELEASE KUALA LUMPUR, July 31, 2017 - Alkhair International Islamic Bank Berhad (AKIIB) today announced the appointment of Mr Yeow Tiang Hui as its new CEO with effect from 1st August 2017. Prior to this appointment, he has pursued a career that spanned several multinational banks. They include Deutsche Bank where he managed the MNC portfolio, and Citibank/Citicorp where he was the Vice President in their venture capital outfit

All 4 Releases

More Releases for GEM

High-Efficiency Motor Manufacturer | GEM
GEM is a high efficiency motor manufacturer and a specialized company in the production of motor elements for high-speed rotating machines. It produces motors suitable for high-speed, high-efficiency, and high-output rotating systems. Through years of experience in developing high-speed rotating motors in the electrical and mechanical fields, GEM developers can respond quickly and accurately to various product developments. GEM succeeded in being the sole supplier of high speed motor elements in 2010
High-Speed Motor Elements Supplier | GEM
GEM specializes in elements such as rotors and stators for high velocity motors with pride itself to provide its customers with products recognized for their high speed, high efficiency, and high power density. GEM stators and rotors were developed by its own research and development institute. A wide range of products is currently offered, with powers ranging from 1 kW to 400 kW and rotation speeds from 10,000 to 100,000 rpm.
High-speed Motor Elements Supplier | GEM
GEM is a company specializing in the production of motor elements for high-speed rotating machines, and produces motors suitable for high-speed, high-efficiency, and high-output rotating systems. GEM developers have years of experience in developing high-speed rotating motors in the electrical and mechanical fields, and can respond quickly and accurately to various product developments. GEM succeeded in being the sole supplier of high speed motor elements in 2010 by mass-producing elements with high
08-04-2020 | Sports
Kevin Consultation
Anish Choudhary - The hidden gem of indian cricket.
We live in a country that is extremely passionate about Cricket. We would say, in India, Cricket is not just a sport, it is a feeling that unites us all in a common thread, it overcomes any differences and diversities that we as a nation face. Bottom line is we literally breathe Cricket. Needless, to say that cricket is ardently followed and played in even the remotest parts of the
Gem Accounts Cloud Accounting Launches in New Zealand
Gem Accounts cloud accounting software has just launched it’s New Zealand version featuring stock and inventory, full quote to cash workflows, and flexible payroll system. Melbourne, VIC, Australia., September 19, 2013 -- Serious Cloud Accounting for New Zealand is Here Finally, a mid-tier cloud accounting software that can replace all the functionality of your desktop system is here. Built from the ground up for medium & large businesses, Gem Accounts delivers
GIA Expands World-Class Gem Education in Dubai
Added courses at DMCC benefit gems and jewellery community DUBAI, United Arab Emirates – May 23, 2012 – GIA (Gemological Institute of America) has added courses to the Dubai Multi Commodities Centre (DMCC) schedule following the tremendously positive response from students who attended GIA’s Diamond Grading Lab class there in February. The Accredited Jewelry Professional (AJP) diploma recently concluded, whereas the Colored Stone Grading Lab class and Gem Identification Lab class